Arbitrum (ARB) jumped over 17% after Robinhood announced a fireside chat featuring Ethereum co-founder Vitalik Buterin, Robinhood Crypto GM Johann Kerbrat, and A.J. Warner, Chief Strategy Officer at Offchain Labs, the developer behind Arbitrum. The event is scheduled for Monday at a Robinhood Europe-hosted gathering in Cannes, which the company is promoting as the venue for its “biggest crypto announcements of the year”.
Following Robinhood’s post, ARB climbed from around $0.30 to approximately $0.36, gaining about 18% on the day. This makes it the largest gainer among the top 100 cryptocurrencies by market cap today.
Background to the speculation
In May, Bloomberg reported that Robinhood was developing a blockchain platform to allow European investors to trade US stocks. Talks reportedly involved Arbitrum and Solana as possible networks to underpin this system, although no final decision was confirmed at the time.
The fireside chat announcement led to market speculation that Robinhood may choose Arbitrum for upcoming integrations or for its blockchain plans. Some expect that Robinhood may announce an Arbitrum partnership during Monday’s event.
What’s Next?
Despite today’s jump, Arbitrum remains down over 50% compared to last year. A potential partnership with Robinhood could bring significant benefits for Arbitrum, yet it’s important to remember that nothing is confirmed at this stage.
So far, there has been no official announcement of a collaboration from Robinhood or any comments from Arbitrum’s official channels, leaving traders waiting for more information from Monday’s event.
